The team and the free-agent second baseman agreed late Tuesday on a three-year, $20 million contract, the Giants announced (via the San Francisco Chronicle's Henry Schulman).

Marco Scutaro free agency 2013: The Giants bring back a key contributor to their world championship triumph. (AP Photo)

Scutaro, 37, was a key figure in the Giants' run to a World Series championship in 2012. He batted .362 in 243 at-bats after being acquired from the Colorado Rockies last July, then hit .500 in seven games to earn MVP honors in the National League Championship Series.

Scutaro turned in his MVP performance while playing with a hip injury he suffered in Game 2, courtesy of a controversial takeout slide at second base by the St. Louis Cardinals' Matt Holliday.

Scutaro is the second regular in as many days to re-sign with the Giants. Center fielder Angel Pagan agreed to a four-year contract worth a reported $40 million on Monday.